UP housing board offers credit-linked subsidy plan

Uttar Pradesh Housing and Development Board, which has already started registration/allotment of flats on first come, first served basis, has come out with a credit-linked subsidy scheme under the Pradhan Mantri Awas Yojna (Urban).

"Under the scheme, the board would provide an interest rate subsidy of 6.5 per cent to the people of the weaker section having an annual income of Rs 3 lakh. Beneficiaries under such category would get the interest rate discount for flats of 30 sqm. Similarly, the people having an annual income of above Rs 3 lakh to Rs 6 lakh would also get the same subsidy for owning a house of 60 sqm," the release said.

"In the middle-income group category one, the people having income more than Rs 6 lakh to Rs 12 lakh would get a subsidy of 4 per cent interest rate on the purchase of a flat of 90 sqm area," the release said, adding that in the second category of middle-income group, people having income of above Rs 12 lakh to Rs 18 lakh would get subsidy of 3 per cent for buying their dream home of upto 110 sqm.

"To provide all the information about the flats, banks and officials of Uttar Pradesh Housing and Development Board would be there to facilitate homebuyers at the camp that would help flat-buyers in taking their decision on the spot," the release said.